Bitcoin Today News: Musk Supports BTC Again as an "Anti-Inflation Asset," $130,000 Breakthrough Imminent?

As the International Monetary Fund (IMF) issues warnings about global market risks, Tesla CEO Elon Musk has once again publicly backed Bitcoin, calling it an “energy benchmark” and an “anti-inflation” asset, in stark contrast to “fake” fiat currencies. Meanwhile, despite the corporate value of Japan's Bitcoin vault company Metaplanet falling below its $3.5 billion Bitcoin holdings for the first time, technical charts show that Bitcoin is forming a triple-bottom reversal pattern around $111,000, indicating strengthened institutional demand, with Bitcoin prices expected to break through $130,000 in the short term.

Elon Musk Reiterates Bitcoin's Core Value: Countering “Fake Fiat”

Since the prediction of a long-term bear market after the FTX collapse in 2022, Elon Musk has made his most direct comments on Bitcoin in nearly three years, strengthening investors' confidence in Bitcoin as a store of value.

· “Energy Benchmark” and “Anti-Inflation”

Musk pointed out in response to analyst ZeroHedge that he believes Bitcoin is “energy-based” and “inflation-proof.” He explained that Bitcoin's proof-of-work (PoW) mechanism prevents the creation of “fake energy,” which stands in stark contrast to fiat currencies that governments can print at will.

· The Role in an AI-Driven Economy

Musk's endorsement once again emphasizes the role of Bitcoin in combating inflation and its growing relevance in the current AI-driven economy. Following Musk's comments, the price of Bitcoin regained momentum, rising to around $111,000, strengthening investors' long-term confidence.

Macro Risk Alert: IMF Warns Market of “Complacency”

Despite Musk's comments boosting sentiment in the crypto market, the International Monetary Fund (IMF) has issued a stern warning about the global financial system.

· Beware of trade conflicts and high debt

The IMF warned that global markets have become “too complacent” about risks such as trade tensions, high levels of debt, and asset price inflation, and cautioned that a sudden loss of this confidence could trigger a “disorderly” market downturn. Previously, news of U.S. President Donald Trump's threat to impose tariffs briefly depressed Bitcoin and the stock market.

· Policy Recommendations

The IMF urges governments to strengthen regulation of cryptocurrencies and stablecoins, and to reduce fiscal deficits. Despite ongoing macro warnings, the rapid rebound of Bitcoin indicates that traders still have strong confidence in its long-term resilience.

Japan Metaplanet Phenomenon: Corporate Value Below BTC Holdings

Japan's leading Bitcoin vault company Metaplanet is facing the embarrassing situation of its corporate valuation being lower than the value of its Bitcoin Holdings for the first time, raising market concerns about the “Bitcoin reserve strategy.”

· Market value is inverted with Bitcoin assets

The market's net asset value (mNAV) for Metaplanet has fallen to 0.99, indicating that the market valuation of Metaplanet is now below its holdings of 30,823 Bitcoins (currently valued at approximately $3.5 billion). Despite being one of the most aggressive corporate Bitcoin accumulators in Asia, its stock price has dropped 75% since June, two weeks after halting Bitcoin purchases.

· Market Misjudgment vs. Long-term Confidence

Analysts compare this market reaction to the early skepticism surrounding TSL, believing that the current sell-off reflects a mispricing by the market, rather than an inherent weakness in the Metaplanet business model. They emphasize that Metaplanet's substantial Bitcoin reserves and long-term accumulation plans continue to support the long-term strength of its balance sheet. The price of Bitcoin is also stabilizing around $113,000, and Metaplanet's large Holdings further confirms institutional belief in Bitcoin's long-term growth potential.

Bitcoin Technical Analysis: Triple Bottom Pattern Confirmed, Target of $130,000 Breakthrough in Sight

Technical charts show that Bitcoin is forming a strong bullish pattern, indicating a strong rebound is expected in the short term.

· Triple Bottom Reversal Pattern

Bitcoin has formed a “triple-bottom” pattern around $109,600, a level that has triggered price reversals multiple times since late September, indicating that selling pressure is easing and buyers are gradually regaining control.

· Key Resistance and Momentum Indicators

On the 2-hour chart, the 100-period Simple Moving Average (SMMA) (located at $116,676) overlaps with the 0.5 Fibonacci retracement level (located at $116,108), forming a key resistance area that limits upward movement. The Relative Strength Index (RSI) has rebounded from oversold levels to 47, indicating early bullish divergence and a slowdown in bearish momentum. If the price closes above $114,500, a bullish engulfing candle will confirm the pattern and strengthen short-term buying power.

· Breakthrough Target

TradingView's path prediction indicates that Bitcoin is expected to break through the current descending channel and surge towards $119,800 (consistent with the 0.786 Fibonacci level). A closing price above $120,000 will signal a transition from consolidation to recovery, with subsequent targets being $125,000 and $130,000. Traders can look for long opportunities above $114,600, with a stop loss set below $109,500 and an initial target of $119,800.

On mobile, users can use Apple Pay to purchase Bitcoin, which can almost achieve instant arrival. This is one of the fastest ways to buy Bitcoin, especially suitable for traders looking to take advantage of short-term fluctuations.

Conclusion

Under the interplay of macro risks and Elon Musk's positive remarks, the Bitcoin market is at a critical turning point. While the IMF's warnings remind the global market of the hidden risks, the low valuation of Japan's Metaplanet also reflects the market's caution towards emerging enterprises' strategies. However, Musk's recognition of “energy anti-inflation” undoubtedly injects new confidence into Bitcoin's long-term value. The technical “triple bottom” pattern and the positive return of buying power provide strong technical support for Bitcoin to challenge 130,000 USD in the short term. As volatility eases and institutional accumulation continues, the current bottom of Bitcoin is likely to become a solid foundation for sustained growth in the fourth quarter.

This article is news information and does not constitute any investment advice. The cryptocurrency market is highly volatile, and investors should make cautious decisions.